Milbank LLP Global Leveraged Finance partners Laura Bonamis and Benjamin Sayagh co-authored “A Comparative Overview of Transatlantic Intercreditor Agreements,” in The International Comparative Legal Guide: Lending & Secured Finance Laws and Regulations 2024.
In cross-border financings for European borrowers or other financings involving practitioners in different parts of the world, deal parties may have different expectations as to the key intercreditor terms that should apply. The chapter compares and contrasts these key terms in US and European second lien intercreditors and covers the blended approach taken in intercreditor agreements for financings of European companies in the US syndicated bank loan markets, as well as documenting transatlantic intercreditor agreements involving other non-US jurisdictions.
The guide covers common issues in lending and secured finance laws and regulations including guarantees, collateral security, financial assistance, syndicated lending and LIBOR replacement.
